Federation house in Marrickville and c1917 bungalow in Dulwich Hill sell
A developer was the successful bidder for an unrenovated house in Marrickville; It beat out an auction bid with restoration plans, paying $4.5 million for the 727-square-foot dual-access space.
Ownership 16 Darley Street, Marrickville It was offered for the first time in 60 years and was marketed as an opportunity to renovate, restore or redevelop.
The price guide for the property was $4 million, with the reserve at $4.2 million. There is no legal requirement for a seller’s reserve to match the property’s price guide.
McGrath Leichhardt representative Alexandra Stamatiou-Buda said the bidder had plans to restore the single-storey, five-bedroom Federation house. He said interest in the level site was strong, with all six registered bidders active.
John McGrath, managing director of McGrath Real Estate, acted as auctioneer in the sale. He had a long-standing connection to the family home and had eaten there in the past.
16 Darley Street was sold to a developer on Saturday. The winner of the bid wanted to restore it.Credit:
Stamatatiou-Buda said he was not surprised by the interest in the level block, which is marketed with “double façades and superior potential”. It is also within walking distance to shops, cafes and transportation hubs such as the soon-to-be-completed Metro station.
“There is strong interest in these properties,” he said. “Size and quality; “It doesn’t come up very often.”
The property was one of 718 scheduled to go up for auction in Sydney this week.
